Byron Lazine and Tom Toole discuss rising mortgage rates, the recent rallying of homebuilder sentiment, falling inventory, inflation causing an uptick in mortgage delinquency, and the meaning of value-based follow-up (including examples).

Check out the latest BAM live cold-calling event with circle prospecting: https://www.youtube.com/live/7Zbv4LScJic?feature=share

Use the discount code BAM23 for Virtudesk to hire your first virtual assistant today and save $250 on the start-up fee: https://bit.ly/Virtudesk-BAM

Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1

Join the 5AM Call: https://5amcall.com/

Timestamps:

00:00–00:40 Intro

00:40 Just two weeks ago, we were at 5.99%

02:18 Byron’s prediction for 2023 with mortgage rates and pent-up demand

04:15 Mortgage demand plummeted 7.7%

04:30 Glen Kelman interview on CNBC: “Half the inventory we had in 2016-2019”

06:51 KCM chart on buyer demand at different mortgage rate levels

11:26 70% of agents have no experience with a down market

15:15 Homebuilder sentiment is up

23:07 Watch the Hot Sheet to be as informed as you need to be as an agent

29:59 Takeaways from Glenn Kelman’s comments on the CNBC video

34:20 Mortgage rates will probably hit 7% within a week

35:14 What agents should be focusing on right now

37:11 Value-based follow-up

Show Resources:

https://www.housingwire.com/articles/housing-market-tracker-inventory-drops-as-mortgage-rates-move-higher/?cx_testId=8&cx_testVariant=cx_1&cx_artPos=1&cx_experienceId=EXAPB9I50LOS#cxrecs_s

https://www.cnbc.com/video/2023/02/15/mortgage-rates-move-higher-along-with-homebuilder-sentiment.html

https://www.housingwire.com/articles/mortgage-rates-inch-closer-to-7-in-the-midst-of-a-strong-economy/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXZNOASUT0V6#cxrecs_s

https://www.housingwire.com/articles/weaker-economy-inflation-caused-mortgage-delinquency-uptick-in-q4/

https://www.cnbc.com/video/2023/02/16/were-still-at-half-the-housing-inventory-of-2016-through-2019-says-redfins-glenn-kelman.html

—-------

BAM delivers real estate news, education, and entertainment with nonstop original content from an unmatchable line-up of industry personalities and top producers.

Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka.

Subscribe to BAM Newsletter: http://eepurl.com/hZU-Vn

Check out BAM: https://nowbam.com/

—----

Connect with Byron Lazine: https://www.instagram.com/byronlazine

Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/